Wendy’s – New Construction | New 20-Year Lease

66942 Gratiot Avenue, Richmond, MI 48062

Property Description

Price: $2,618,182
Land Area: ±0.56 Acres (±24,394 Square Feet)
Cap Rate: 5.50%
Gross Leasable Area: ±2,045 Square Feet
Year Built: 2024

Investment Highlights

NOW OPEN!  Wendy’s New Global Next Gen Prototype

Brand New, 20-Year Wendy’s Sale-Leaseback

Outparcel to Kroger Anchored Shopping Center

Prime Retail Location

  • Highly-Trafficked Location Near the Intersection of Gratiot Ave and 31 Mile Rd (Combined Traffic Counts Exceed 28,000 Cars Per Day)
  • Located in Front of the Only Major Grocery Store within a 6-Mile Radius, Providing for a Consistent Flow of Customers to the Subject Property
  • Located on Main Retail Corridor in Close Proximity to Several Major Retailers such as Tractor Supply, Jimmy John’s, T-Mobile, Great Clips, CVS, O’Reilly Auto Parts, Verizon, AT&T, Tropical Smoothie Café, Speedway, AutoZone, PNC Bank, and Many More
  • Affluent Area with the Average Household Income Exceeding $87,000 within 3 Miles

Experienced Wendy’s Franchisee

  • Absolute NNN Property with Zero Landlord ResponsibilitiesIdeal for Investors Not Local to the Market
  • Meritage Hospitality Group is One of the Largest Wendy’s Franchisee’s in the Country with Over 12,000 Employees and 380 Locations in 16 States
  • Scheduled 1.5% Annual Rental Increases Throughout the Initial Term Provide for an Excellent Hedge Against Inflation

 

Broker of Record: Steve Chaben, Lic. MI 6502387903

 

Contact Information

Craig Elster
Vice President Investments
Director, Net Leased Properties Group
(949) 419-3223
[email protected]
License: CA 01958307

Ron Duong
Ron Duong
Senior Managing Director Investments
Senior Director, National Retail Group
(949) 419-3233
[email protected]
License: CA 01438643

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